Purmo Group Plc | Stock Exchange Release | December 05, 2024 at 09:30:00 EET
Purmo Group Plc applies for the delisting of its shares from the official list of Nasdaq Helsinki
The Board of Directors of Purmo Group Plc ("Purmo Group") has today resolved to apply for the termination of public trading in the shares of Purmo Group and the delisting of its shares from the official list of Nasdaq Helsinki Ltd ("Nasdaq Helsinki") as soon as possible upon Project Grand Bidco (UK) Limited ("Project Grand Bidco") having gained title to all the shares in Purmo Group in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act.
Project Grand Bidco holds more than 90 per cent of all the issued and outstanding shares in Purmo Group. As previously announced, Project Grand Bidco has, by submitting an application to the Redemption Board of the Finland Chamber of Commerce dated August 23, 2024, commenced redemption proceedings in respect of Purmo Group's minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Purmo Group. Project Grand Bidco served its application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 5 of the Finnish Companies Act on September 20, 2024.
The Board of Directors of Purmo Group has resolved to submit an application to Nasdaq Helsinki for the termination of public trading and the delisting of the Purmo Group shares. In the application, it is requested that the delisting in respect of the Purmo Group shares admitted to trading on the official list of Nasdaq Helsinki would become effective as soon as possible upon Project Grand Bidco having gained title to all the shares in Purmo Group in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act.
Further information:
Purmo Group
Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
katariina.kataja@purmogroup.com
Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com
About Purmo Group:
Purmo Group is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 2,760 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to our over 100,000 customers in more than 100 countries. Purmo Group's shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.
